The Eighth Economic Reform Support Grant for Burundi (ERSG) series covers three key areas, namely: (i) Strengthening public finance management and budget transparency; (ii) Promoting private sector investment promotion and economic diversification; and (iii) Strengthening safety nets systems.
... See More + The implementation of the eighth ERSG coincides with the third year of implementation of the Second Poverty Reduction Strategy Paper (PRSP II) and operates parallel to the eighth ERSG. PRSP II aims at: (i) transforming the economy for rapid job-creating growth and food security; (ii) making growth more inclusive and sensitive to vulnerable groups; (iii) realizing the potential of the population with a thriving private sector by increasing trade with neighbors; and (iv) developing institutions to improve governance and the quality of services. Under component one there are four sub-components: (a) streamlining tax expenditure; (b) strengthening strategic and budget planning processes; (c) reinforcing transparency of public finance management and procurement; and (d) managing the public wage bill. The Governments future reforms will continue to support private sector development with greater emphasis on export development and diversification. The critical role of export development and diversification in consolidating macroeconomic stability, accelerating growth, and job creation has been demonstrated in several analytical studies, in particular the World Banks Economic Update.
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The Emergency Demobilization and Transitional Reintegration Project for Burundi were satisfactory with substantial risk to the development outcome.
... See More + The performances by both the Bank and the Borrower were satisfactory. Given the satisfactory performance of the project, strong commitment from the GoB to provide housing for severely disabled ex-combatants as well as the availability of resources (MDTF balance), the GoB requested Additional Financing (AF) from the Bank to provide housing for severely disabled ex-combatants among other activities aimed at strengthening support to vulnerable groups. An AF of US$ 7.9 million (US$4.25 million funded by MDTF and US$3.63 million by the GoB) was approved by the Executive Directors on August 26, 2013 and became effective on November 26, 2013. During project preparation it was foreseen that the project would be funded through a US$10 million IDA grant and a US$12.5 million MDTF. The IDA allocation was increased to US$15 million prior to the Board meeting to cover a potential short-term shortfall of donor contributions to the MDTF. An MDTF Grant of US$ 12.5 million became effective on April 21, 2010, covering the full project cost. Pursuant to Section 6.03, paragraph 6 of the General Conditions of the Financing Agreement, the Country Director (CD) approved the cancellation of the equivalent of US$5 million from the IDA Grant on April 20, 2010.
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